A2Z Cust2Mate Solutions Corp. $AZ Stock Sold by Fortitude Advisory Group L.L.C.

Key Points

• Fortitude Advisory Group cut its A2Z Cust2Mate Solutions stake by 87.5% in the third quarter, selling 350,000 shares and retaining 50,000 shares worth approximately $288,000.
• A2Z reported quarterly revenue of $5.9 million and an adjusted loss of $0.16 per share, beating analyst estimates, but continued to post significant net losses and negative returns on equity.
• The company authorized a $20 million share-repurchase program, covering up to 7.2% of outstanding shares; analysts’ average rating remains “Hold,” with a consensus price target of $15 versus a recent share price of $5.70.

Fortitude Advisory Group L.L.C. decreased its holdings in A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ - Free Report) by 87.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,000 shares of the company's stock after selling 350,000 shares during the quarter. Fortitude Advisory Group L.L.C. owned approximately 0.11% of A2Z Cust2Mate Solutions worth $288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Curated Wealth Partners LLC acquired a new position in shares of A2Z Cust2Mate Solutions in the third quarter worth approximately $287,000. Persistent Asset Partners Ltd bought a new stake in A2Z Cust2Mate Solutions in the second quarter valued at approximately $331,000. Bank of America Corp DE acquired a new stake in A2Z Cust2Mate Solutions during the 2nd quarter valued at approximately $359,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in A2Z Cust2Mate Solutions during the 2nd quarter valued at approximately $3,183,000. Finally, Cable Car Capital LP acquired a new stake in A2Z Cust2Mate Solutions during the 2nd quarter valued at approximately $3,492,000. 12.64% of the stock is currently owned by institutional investors and hedge funds.

A2Z Cust2Mate Solutions Price Performance

Shares of A2Z Cust2Mate Solutions stock opened at $5.70 on Friday. The company has a current ratio of 7.52, a quick ratio of 6.56 and a debt-to-equity ratio of 0.02. A2Z Cust2Mate Solutions Corp. has a 1 year low of $4.97 and a 1 year high of $8.73. The company has a 50 day simple moving average of $6.18 and a two-hundred day simple moving average of $6.38.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. A2Z Cust2Mate Solutions had a negative net margin of 241.67% and a negative return on equity of 49.91%. The firm had revenue of $5.90 million for the quarter, compared to analyst estimates of $3.54 million. As a group, research analysts anticipate that A2Z Cust2Mate Solutions Corp. will post -0.52 earnings per share for the current fiscal year.

A2Z Cust2Mate Solutions announced that its board has initiated a stock repurchase plan on Monday, July 6th that allows the company to repurchase $20.00 million in shares. This buyback authorization allows the company to buy up to 7.2% of its shares through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AZ. Zacks Research upgraded A2Z Cust2Mate Solutions from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a research report on Thursday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.00.

A2Z Cust2Mate Solutions Profile

A2Z Cust2Mate Solutions Corp. NASDAQ: AZ is an Israel-based technology company focused on retail automation and the development of smart shopping carts. Its flagship Cust2Mate platform is designed to help shoppers scan and pay for products while they shop, reducing checkout times and providing retailers with additional tools to manage in-store operations and customer engagement.

The Cust2Mate system combines a shopping cart equipped with an interactive screen, product-scanning capabilities, payment functionality and software designed to support self-checkout and in-store marketing.

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